(NAR) VOL.8 NO. 1 / JANUARY-MARCH 1997
The following addendum is hereby issued to form part of Insurance Memorandum Circular 1-96 approved on 17 December 1996.
1. Item 1 of Part III — Premium rates include:
Types of Vehicles | Premium Rates |
---|
Commercial Vehicles
| |
---|
a. Carrying own goods | |
---|
Light | 490.00 |
---|
Medium | 690.00 |
---|
Heavy | 960.00 |
---|
b. For Hire | |
---|
Light | 610.00 |
---|
Medium | 860.00 |
---|
Heavy | 1,100.00 |
---|
Motorcycles | 180.00 |
---|
2. The enumeration of cities and municipalities comprising Metro Manila Area includes Marikina City.
3. The revised limits apply to all policies with inception dates of 1 January 1997 onwards.
Adopted: 27 Dec. 1996
(Sgd.) EDUARDO T. MALINIS
Insurance Commissioner
Approved:
(Sgd.) ROBERTO F. DE OCAMPO
Secretary of Finance